A Ukrainian court has approved the pre-trial detention of businessman Kostiantyn Hryhoryshyn, who has already left the country, as prosecutors seek an international arrest warrant. The Prosecutor General’s Office confirmed that contacting Interpol to issue a “Red Notice” – a global request to detain a suspect – will be pursued in the coming stages. Authorities have also frozen funds in banking institutions and corporate rights belonging to three of Hryhoryshyn’s companies, according to Ukraine’s investigative unit Schemes.
Alleged embezzlement scheme and losses
Ukraine’s Bureau of Economic Security stated in March that approximately 68 million Ukrainian hryvnia ($1.3 million) was allegedly siphoned from an energy provider between 2020 and 2024 through fraudulent activities. Along with top managers, Hryhoryshyn is accused of creating a fictitious position requiring only four hours of work per week, for which he received a monthly salary of 1.5 million hryvnia ($29,204). The suspect’s lawyers have denied the allegations, describing them as politically motivated.
Properties in France and Switzerland
While Hryhoryshyn’s current whereabouts are unknown, investigative reporting by Schemes and OCCRP traced his footprint to luxury properties in France and Switzerland. Luxembourg company registry data, obtained by Le Monde, shows that Hryhoryshyn is the beneficial owner of a company holding three plots of land in the French ski resort of Courchevel, including two chalets. Further records reveal that in November he updated his personal address to an estate on Lake Geneva in Switzerland, where he has submitted a local planning application for renovation. There is no evidence that funds from the alleged embezzlement were used to acquire or maintain these properties.
Potential impact on British interests
If Interpol issues a Red Notice at Ukraine’s request, UK police and border forces would be obliged to detain Hryhoryshyn should he attempt to enter or transit through Britain. The case also underscores wider risks of corruption in energy markets: although the sum involved is relatively small, fraudulent schemes in Ukraine’s energy sector can distort regional supply and pricing, indirectly affecting European – including British – energy costs. The UK, as a member of Interpol and a major energy importer, retains a direct interest in the integrity of international anti-fraud mechanisms and the stability of European energy networks.
